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Mauritius:
Economy

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Economy - overview
Definition
Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. The economy rests on sugar, tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area and accounts for 15% of export earnings. The government's development strategy centers on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. Investment in the banking sector alone has reached over $1 billion. Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).
GDP (purchasing power parity)
Definition - World rank and map
$14.06 billion (2007 est.)
GDP (official exchange rate)
Definition
$6.959 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
4.6% (2007 est.)
GDP - per capita
Definition - World rank and map
$11,200 (2007 est.)
GDP - composition by sector
Definition
agriculture: 4.8%
industry: 25%
services: 70.1% (2007 est.)
Labor force
Definition
574,000 (2007 est.)
Labor force - by occupation
Definition
agriculture and fishing 9%, construction and industry 30%, transportation and communication 7%, trade, restaurants, hotels 22%, finance 6%, other services 25% (2007)
Unemployment rate
Definition - World rank and map
8.8% (2007 est.)
Population below poverty line
Definition
8% (2006 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Distribution of family income - Gini index
Definition - World rank and map
39 (2006 est.)
Inflation rate (consumer prices)
Definition - World rank and map
8.8% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
25.1% of GDP (2007 est.)
Budget
Definition
revenues: $1.331 billion
expenditures: $1.632 billion; including capital expenditures of $NA (2007 est.)
Public debt
Definition - World rank and map
58.8% of GDP (2007 est.)
Agriculture - products
Definition
sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish
Industries
Definition
food processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery, tourism
Industrial production growth rate
Definition - World rank and map
4.7% (2007 est.)
Electricity - production
Definition - World rank and map
2.35 billion kWh (2006)
Electricity - consumption
Definition - World rank and map
2.068 billion kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
1,623 kWh (2006)
Electricity - exports
Definition
0 kWh (2006)
Electricity - imports
Definition
0 kWh (2006)
Oil - production
Definition - World rank and map
0 bbl/day (2006 est.)
Oil - consumption
Definition - World rank and map
23,650 bbl/day (2006 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
18.6 bbl/day (2006 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2006)
Oil - imports
Definition - World rank and map
23,650 bbl/day (2006)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$549 million (2007 est.)
Exports
Definition - World rank and map
$2.218 billion f.o.b. (2007 est.)
Exports - commodities
Definition
clothing and textiles, sugar, cut flowers, molasses, fish
Exports - partners
Definition
UK 28.4%, UAE 14.2%, France 13.2%, US 7.9%, Madagascar 5.7%, Italy 4.4%, Belgium 4% (2006)
Imports
Definition - World rank and map
$3.628 billion f.o.b. (2007 est.)
Imports - commodities
Definition
manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals
Imports - partners
Definition
India 15.1%, France 13.1%, South Africa 8.2%, China 7.9% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$1.822 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$2.136 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$5.7 billion (2007)
Economic aid - recipient
Definition
$31.93 million (2005)
Currency (code)
Definition
Mauritian rupee (MUR)
Exchange rates
Definition
Mauritian rupees per US dollar - 31.798 (2007), 31.656 (2006), 29.496 (2005), 27.499 (2004), 27.902 (2003)
Fiscal year
Definition
1 July - 30 June


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